Milton Freidman the famous economist once said, “There is one and only one social responsibility of business — to use its resources and engage in activities designed to increase its profits so long as it stays within the rules of the game, which is to say, engages in open and free competition without deception or fraud.”
a. Do corporations have a legal right or legal obligation to develop corporate social responsibility programs?
b. Should multinationals make charitable donations or political contributions in local markets?
c. How should a multinational balance competitive tools such as soft brand power (reputation and good will) and hard brand power (price, quality, product features, product availability)?